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China Trade Balance Explodes To Record High As July Exports Double Expectations

Tyler Durden's picture




 

Filed in the "are you kidding us" folder... Chinese exports rose an astounding 14.5% YoY in July (the biggest surge since April 2013 and double the 7.0% YoY expectations). Chinese imports plunged 1.6% to 4-month lows, dramatically missing expectations of a 2.6% YoY gain. These miracles of goalseek.xls and fake trade invoicing left the Chinese Trade Balance for July at $47.3 Billion - its highest ever (ever) and almost double the $27.4bn expectations. In the midst of collapsing European economies, plunging Russia, and stumbling 'hard' US macro data, the Chinese government would have us believe the world (net) bought the most stuff ever from them in July...

 

Yes, your eyes are not deceiving you...

 

It would appear - as we noted previously, that China is up to its old tricks...

 

China's exports have been overstated by Chinese data...

 

We cannot show just how crazy this data is because US and more importantly Hong Kong imports from China data is not updated to end July yet... but it is noteworthy that the hub of fake invoicing - Hong Kong - saw a 13.3% YoY jump - its most in 16 months... after being totally flat for 4 months

 

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Thu, 08/07/2014 - 23:12 | 5063170 HedgeAccordingly
HedgeAccordingly's picture

welp.. Barry actually has a spine.. fooled me.. 

CHINA .. 

http://hedgeaccording.ly/2014/07/alan-greenspan-u-s-running-out-of-buffe...

Thu, 08/07/2014 - 23:17 | 5063187 wallstreetapost...
wallstreetaposteriori's picture

Chinese goverment is about as smart as foneystar/gh0atrider pedeling shit coin.... 

Thu, 08/07/2014 - 23:36 | 5063287 Thought Processor
Thought Processor's picture

 

 

 

China's leaders have the ability to formulate / fabricate almost any figure they want relative to China's own internal condition.

 

And they do.

Thu, 08/07/2014 - 23:51 | 5063338 zaphod
zaphod's picture

Thanks China for all of your hard work making everything for everyone.

Your reward is massive environmental damage to your lands and a few piece of paper with a bunch of zeros on them.

Thu, 08/07/2014 - 23:57 | 5063362 DoChenRollingBearing
DoChenRollingBearing's picture

Indeed, the price:quality ratio of our "Hub and Bearing Assemblies" cannot be matched by anyone else.  Who says so?

Our customers there in Peru.

Fri, 08/08/2014 - 01:10 | 5063601 Juno Rock
Juno Rock's picture

Must be true!

Thats why the Baltic Dry Index (BDI) is bottom bouncing! 

Oh yah. Must be all those "new" ships that have come online. Yah. Thats it? Isn't it? 

Fri, 08/08/2014 - 01:20 | 5063614 DoChenRollingBearing
DoChenRollingBearing's picture

Bearings are shipped in 20' containers.  Shipping rates for containers have a different dynamic than shipping bulk goods like grain or coal.

Fri, 08/08/2014 - 02:39 | 5063747 disabledvet
disabledvet's picture

Interesting. I imagine insurance rates for "metallic compounds" are different as well...thus driving up the price of "bearings" relative to the bulk product as well.

Rather ironic if you think about..."won't take out insurance on a thousand foot ship loaded with grain, copper or iron ore...buta single shipment of bearings airshipped from Chile will absolutely be insured."

Fri, 08/08/2014 - 02:19 | 5063723 Muh Raf
Muh Raf's picture

The Peoples Revolutionary Republican Communist Democracy of Nouveau Riche Princelings compretery and utterry leject the arregation and fraglant ries in lespect of the varidity of the States data. P.S can anyone prease exprain what is meaning of lehypothecation because cannot find in the onrine Engrish-Chinese dictionaly.

Fri, 08/08/2014 - 03:04 | 5063775 Apostate2
Apostate2's picture

'Zai diya'.Of course considering the fact that finance revolves around real estate it also means to remortgage but essentially it means the same as in English.

You asked.

Thu, 08/07/2014 - 23:59 | 5063379 bid the soldier...
bid the soldiers shoot's picture

Same-same as the FED.

Except the Fed lies about number one economy, and BOC lies about number two economy.

The Fed's lies therefore have a greater consequence on the global economy.  

Fri, 08/08/2014 - 04:05 | 5063839 USisCorrupt
USisCorrupt's picture

There is nothing wrong with owning some Bitcoin vs having to much FRN's, I myself like being Diversified. Silver, Gold, Guns, Ammo, Food, Farmland, Bitcoin and God.

Thu, 08/07/2014 - 23:12 | 5063173 Squid Viscous
Squid Viscous's picture

Burr-ish!

Thu, 08/07/2014 - 23:13 | 5063177 fonzannoon
fonzannoon's picture

I have a hard time believing this is china. this stanks of the fed offering china some advice on how to try to balance global markets.

Thu, 08/07/2014 - 23:15 | 5063185 Dr. Engali
Dr. Engali's picture

I ordered a new set of carbon wheels for my bike, it's my fault.

Fri, 08/08/2014 - 03:04 | 5063779 Renewable Life
Renewable Life's picture

What's funny is, the complete fucking delusion of the west and even ZH to the reality that China is decoupling from dollar assets and dollar accounting and everything else dollar related!

What does this mean, if you still see the world through the USD spectrum, shit is going to get more and more confusing for you! They are going to completely reverse slowly the way the planet sees value, and to do this, they will take a page from the FED's play book, which is of course, completely make shit up and based on variables only you know as the gov know!

Thu, 08/07/2014 - 23:19 | 5063188 ekm1
ekm1's picture

Only in China higher wages for workers translate to higher exports and higher profits

 

Situation must be in such a panic, that politburo is obligated to reduce the quality of propaganda with this idiotic data tonight

 

China is currently running at minus 8% GDP since at least 30% of all commodities are not available for consumption but tied up in rehypotheticated deals 

Thu, 08/07/2014 - 23:20 | 5063204 Jack Burton
Jack Burton's picture

Off Topic! But I want this out there for the person who called me a fuck head and told me I didn't know shit about Fukushima. Direct from TEPCO, they announced just what I said months ago. "In fact, the power company’s new appraisal of the Fukushima No. 3 reactor building shows that all – or nearly all – of the fuel rods contained inside were melted, dropping onto the floor of the containment vessel. If true, the news means the power plant could be even tougher to decommission."

Thu, 08/07/2014 - 23:22 | 5063212 fonzannoon
fonzannoon's picture

hang in there i have a rogue retard hit and run happeneing to me daily. doc is right, don't let it get to you.

Thu, 08/07/2014 - 23:53 | 5063345 Yen Cross
Yen Cross's picture

 Fonz, respectfully, we're just having fun. The moment you question you're cranial knowledge? On 'Zero Hedge', is indeed a sad day my friend!

  Your children will prosper partially from the infinite wisdom, you've gained on Zero Hedge/

Fri, 08/08/2014 - 00:03 | 5063392 Wild Theories
Wild Theories's picture

ya poor thing, I gave you an upvote just to make you feel better

Fri, 08/08/2014 - 01:12 | 5063606 Yen Cross
Yen Cross's picture

So Wild  "Tear Drops/  You actually think you.ve got some ideas?

   Do you even have the slightest inclination of the work it takes to put a 2014 BMW 335i lease on your desk?

Fri, 08/08/2014 - 05:34 | 5063901 Wild Theories
Wild Theories's picture

Why are you buying it on a lease anyway? Can't you drive someone else's, or buy one on the company tab?

Seriously, have you ever considered skipping the whole 'ownership' thing and just use one you don't have to own?

Think about your future maintenance bills on those German parts...

 

I know, my comment looked kinda sarcastic. But I was expressing real sympathy, I like both Jack and fonz.

Thu, 08/07/2014 - 23:26 | 5063235 db51
db51's picture

Hey Fuckhead.   Let's stay on point here.  This ain't a Fuckashemale Thread.   lmao....    Fuckhead is one of the nicer things I've been called.

Fri, 08/08/2014 - 00:07 | 5063407 novictim
novictim's picture

does db stand for Douche Bag?

Thu, 08/07/2014 - 23:22 | 5063219 NoWayJose
NoWayJose's picture

To be fair - ZH reported earlier this week that he US trade balance was among the worst ever - excluding energy. That means the US sucked in more goods from somewhere!

Thu, 08/07/2014 - 23:27 | 5063241 edotabin
edotabin's picture

Yay! Walmart thoroughly restocked.

Thu, 08/07/2014 - 23:38 | 5063295 NoWayJose
NoWayJose's picture

Agree! Very likely Chinese made Christmas crap coming in so the US retailers get it distributed and can put it out on the shelves at the end of September!

Thu, 08/07/2014 - 23:32 | 5063264 Realname
Realname's picture

WTF is going on with the Nikkei? Did someone hit the stop button? Its been on -445.49 for 20 minutes or better.

Thu, 08/07/2014 - 23:34 | 5063282 fonzannoon
fonzannoon's picture

they take a smoke break.

Thu, 08/07/2014 - 23:36 | 5063286 Realname
Realname's picture

They must be smoking some good stuff.

Thu, 08/07/2014 - 23:36 | 5063288 Yen Cross
Yen Cross's picture

  I recently ordered some carbon fibre' underware. does that count?

Fri, 08/08/2014 - 01:38 | 5063654 Buster Cherry
Buster Cherry's picture

does it dry fast?

Thu, 08/07/2014 - 23:41 | 5063307 Aussiekiwi
Aussiekiwi's picture

The Chinese just use a dice to decide on their trade data, nobody take chinese statistics seriously, having your own guess is likely to be far more accurate.

Fri, 08/08/2014 - 00:19 | 5063374 HardAssets
HardAssets's picture

They peg to the criminal manipulated phony azz US dollar, so who believes any of the 'statistics' out there anyway. They all probably think that they might as well lie Big.

"they more easily fall victim to a big lie than to a little one " - Adolf Hitler

Thu, 08/07/2014 - 23:43 | 5063311 Yen Cross
Yen Cross's picture

 Hillarious! The banks are trying to purge the longs.  I'm not hedged bitchez/ I love that carry bitchez!/ Australia is AAA+++ bitchez!

  Fucking Sand Niggers "rince washing"!

Thu, 08/07/2014 - 23:48 | 5063326 Make_Mine_A_Double
Make_Mine_A_Double's picture

This one I sort of believe.

Imports from are so overwhelming most PNW ports have ships at berth waiting to unload. Part of it is inventory restock and hedging against possible USWC longshore strike.

Part of it is probably dumping to keep the factories going.

But I still do not understand who is going to buy all this shit?

Thu, 08/07/2014 - 23:52 | 5063340 q99x2
q99x2's picture

I did not buy anything.

Thu, 08/07/2014 - 23:55 | 5063354 Yen Cross
Yen Cross's picture

  FX is officially poluted!

  Long Silver/ even moar

Fri, 08/08/2014 - 00:11 | 5063419 novictim
novictim's picture

Hey, there is a mouse-head in my pot sticker!

Fri, 08/08/2014 - 00:41 | 5063422 Wild Theories
Wild Theories's picture

Tylers, if you suspect export numbers are getting 'fake' again to mask foreign credit inflows, you need say it in plain English(even though I can plainly see that's what you are saying).

ZH seems to have gone more "mainstream" now than a few yrs ago, a lot of yon readers may really have trouble connecting dots and understanding what you mean.

Fri, 08/08/2014 - 02:53 | 5063756 disabledvet
disabledvet's picture

Yeah...might be a little too into the minutiae here. "Seeing ghosts"'as it were. All data begins...and basically ends actually...at the point of sale...not in import/export "trivia." (Although this data set is very bullish for debt buying as this means the dollars are still sloshing around in huge quantities.)

That's why I remain bullish on Oracle as that is their bread and butter...data on actual sales "of sales" (by an actual customer.) tesla is another interesting one since it only takes pre orders on cars and doesn't just "inventory up."

Fri, 08/08/2014 - 00:16 | 5063431 Let them eat iPads
Let them eat iPads's picture

They must have just shipped out a massive load of toxic Back to School Sale supplies.

Fri, 08/08/2014 - 00:48 | 5063550 Yen Cross
Yen Cross's picture

 Lead to sch'cool supplies

  neurotoxin that accumulates both in soft ...

Lead poisoning -
Fri, 08/08/2014 - 00:26 | 5063468 theonewhowaskazu
theonewhowaskazu's picture

China's data may well be manipulated, but even so, this was clearly a good quarter for them. 

Fri, 08/08/2014 - 01:45 | 5063668 hibou-Owl
hibou-Owl's picture

next quarter probably good as well, exporting food to Russia.
European's lost!

Fri, 08/08/2014 - 03:52 | 5063830 TMLutas
TMLutas's picture

China's a food importer, not exporter. If they're going to be exporting food to Russia it's because they'll be importing even more from everywhere else. They don't do that for free so, Russia loses. 

Fri, 08/08/2014 - 00:34 | 5063507 bid the soldier...
bid the soldiers shoot's picture

"China is up to its old tricks..."

When it comes to old tricks the Fed is like Germany and the BOC is like Brazil.  

"On March 23, 2006 the Federal Reserve ceased publication of the M3 monetary aggregate, in line with an announcement it made in November, 2005. The M3 is a measure of money supply in theUnited States"

The lie was that they stopped publishing M3 to save money. The real reason was seen 3 years later.

And then there's the greatest lie ever told in the history of the United States of America.  A lie of omission.

in November 2007, the Fed learned that the nation's economy went into recession.  

But in 12 months there was to be an election for president, the whole House of Reps, and one third of the Senate.

So the Fed did not tell the American people that they had been in recession until December 2008.

AFTER THE ELECTION IN NOVEMBER.

In 2008, how many American would not have bought houses, made investments, stated businesses if they had known that the country was in recession?

The BOC MAY lie to the international community about trade figures, but the FED lies to its own citizens about the state of their economy.

Fri, 08/08/2014 - 00:48 | 5063546 Atomizer
Atomizer's picture

Our US administration wants to know the cost of renting a ghost town suite. They want to run a pedophile establishment to jump start GDP.

 

Fri, 08/08/2014 - 00:52 | 5063561 Yen Cross
Yen Cross's picture

 Atomizer, I love you, in a "non" Reggie way!

Fri, 08/08/2014 - 00:53 | 5063562 starman
starman's picture

long on fortune cookies!

Fri, 08/08/2014 - 01:26 | 5063590 Yen Cross
Yen Cross's picture

 Gentlemen? 

     When you felt "undeserved" ?

   Gentlemen, "your Mother taught "you" kinship"

  Gentlemen, I didn't ask for this job.

      I hope that I helped to define a gentleman? ( long opera)

 I feel this whisper

Fri, 08/08/2014 - 02:13 | 5063713 williambanzai7
williambanzai7's picture

Chinese goods are not being shipped to Hong Kong. All the consumers are Mainlanders looking for foreign luxury goods and the rents are too high to open stores selling cheap Chinese goods.

Pretty funny, no?

Fri, 08/08/2014 - 02:59 | 5063765 disabledvet
disabledvet's picture

Shanghai is a lot different than Hong Kong...and yes Chinese goods are being shipped there (Shibor for example...and the "Shicomp" I might add as well.)

"A River Runs Through It" as they say.

Fri, 08/08/2014 - 03:23 | 5063811 Septicus Maximus
Septicus Maximus's picture

Talking out your ass again Banzai.  Walk through west Kowloon, SSP or MK... 

stick to photoshopping pictures of the bernank, you obviously know nothing about HK... 

Fri, 08/08/2014 - 04:08 | 5063842 Yen Cross
Yen Cross's picture

 Don't waste you time Billy/

  Some of us love life<> and others debate IT.

  I love you billy, and your Mother is looking down on you.

Fri, 08/08/2014 - 04:05 | 5063766 Angry Plant
Angry Plant's picture

If China loaned the coutries buying the exports the yuan to pay for the exports then yes they could achieve that level of exports.

Long term it just means chinese baks will be packed with bad loans to third world countries that wont pay them back.

Fri, 08/08/2014 - 03:39 | 5063825 hedgiex
hedgiex's picture

They call it China Trade Finance i.e. without the Trade

Fri, 08/08/2014 - 03:50 | 5063829 TN Jed
TN Jed's picture

Hard to beat a man with 5 aces.

Fri, 08/08/2014 - 04:11 | 5063848 orangegeek
orangegeek's picture

Breaking news - 50% of China's population are now ba-zillionaires and are ready to buy up the planet and marry all our women.

 

Just another communist country showing superiority.

 

Hell, North Korea won the recent World Cup in soccer - can you beat that??

Fri, 08/08/2014 - 04:45 | 5063874 Yen Cross
Yen Cross's picture

     Enough with pussification/ Be a man

Fri, 08/08/2014 - 06:21 | 5063972 MickV
MickV's picture

SSSSUUUUUURRRREEE they did!!!!!!!!!!!!!!!!!!

Fri, 08/08/2014 - 06:31 | 5063982 vyeung
vyeung's picture

I guess many of the keyboard warriors have never ever been to Asia, especially HK. Most of the comments are literally moronic. Hub of fake data, HK, hahaha, your killing me. China, yes, but HK, I don't think do.

Fri, 08/08/2014 - 06:49 | 5064008 vyeung
vyeung's picture

Honestly, the data is probably out, but people on zh, China had new clients to now, not just the west. Africa continent, Brazil (remember the world cup memorabilia that people buy), middle east etc. U.S. and Europe aren't the only customers and the slack is somewhat taken up a little by these new buyers. It's the data correct, I dunno, but the central government of China Will only be kidding themselves if they though otherwise. Xi is a good leader, so even if it's tainted, from a macro angle they are making the right moves (policy wise). 

I do like the communist phase though, because it's better than having fascists criminals running your country. Also, communists are reforming to become capitalists which they have demonstrated via their economic power over the last 2 decades. Whereas fascists do not reform because their mo of free looting, total dominance, death and destruction, psycho policies are too exciting to be replaced with any other legitimate form of governing.

Fri, 08/08/2014 - 07:16 | 5064054 sidiji
sidiji's picture

data looks legit to me, why do you think China owns the world now?

US really should hire an asian for president.

Fri, 08/08/2014 - 08:10 | 5064204 venturen
venturen's picture

The FED is buying the chinese with printed dollar to fill its raiders of the lost ark warehouses to make sure all global data is in line!

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